Global shares mixed…Biden to convene climate summit
TOKYO (AP) – Global shares are mixed today amid cautious optimism about a global rebound from the coronavirus pandemic. In early trading, France’s CAC 40 added 0.3%, while Germany’s DAX inched down less than 0.1%. Britain’s FTSE 100 edged up 0.1%. In Asian markets South Korea’s Kospi was little changed, Hong Kong’s Hang Seng closed 0.5% higher and the Shanghai Composite gained 1.5%. U.S. shares are set for a slow start to the week, with Dow futures down 0.3% and S&P 500 futures 0.2% lower.
WASHINGTON (AP) – President Joe Biden will convene a virtual climate summit on Thursday. The president is expected to present a nonbinding but symbolic goal to reduce greenhouse gas emissions that will have a tangible impact not only on climate change efforts in the U.S. but throughout the world. But Republicans are complaining about job-killing government overreach. Others on the left are worrying that Biden is not going far enough to address a profound threat to the planet.
HOUSTON (AP) – Authorities in Texas say no one was sitting in the driver’s seat when a Tesla vehicle crashed over the weekend and burst into flames, killing the two people inside. Deputies in Harris County say the car was traveling fast when it failed to navigate a turn and ran off the road and hit a tree. It’s not clear whether the car’s driver-assist system was being used before the crash, but authorities say the victims were in the front and rear passenger seats. Tesla company warns customers that its driver-assist system, called Autopilot, is not an autonomous-driving program, and that drivers must pay attention and be ready to take control of the vehicle.
SHANGHAI (AP) – Volkswagen has unveiled an electric SUV made for China at the Shanghai auto show, the industry’s biggest marketing event in a year overshadowed by the coronavirus pandemic. Automakers are looking to China, their biggest market by sales volume and the first major economy to rebound from the pandemic, to revive sales and reverse multibillion-dollar losses. Ford, Nissan and other automakers also plan to debut new models at the show.
HONG KONG (AP) – The world’s appetite for collectors’ art continues to rise amid the economic uncertainty created by the coronavirus pandemic. A Chinese painting from 1924 by Xu Beihong (shoo bay-HONG’) is expected to fetch at least $45 million at an auction in Hong Kong next month. “The Slave and Lion,” which depicts a slave in a cave attempting to hide from a lion, is considered groundbreaking work that inspired the artist’s later paintings and is one of the most important oil paintings in Chinese art. Christie’s auction house says the painting is the highest-estimated Asian artwork ever offered at auction.